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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (1376)	3/31/1998 5:50:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

I'm trying to get the following through to OCC, but their system is throwing errors. I'll get it through somehow, and post any response. sf ========================= Hello Options Clearing Corporation, I currently trade options on the Brazilian phone company Telebras ADR's. As the privatization of Telebras into 12 companies draws closer I am becoming more concerned regarding the outcome of open options as of the breakup. 1) In that there will be 12 new companies, I would initially assume I'd end up with 12 sets of options with a cash settlement for any fractional shares. My concern is that general opinion seems to be that a handful of these new companies will not trade as ADR's and I would assume not offer options. Has there been a precedent set or can you speculate as to how this situation might be handled? 2) Can you speculate as to when final details might be available, and what I can do to ensure I'm made aware as soon as they are? Thank you in advance for your assistance. Steve Fancy <smfmlf@centuryinter.net>